The state-owned industrial plant Envases de Vidrio de Bolivia (Envibol) reactivated operations in its two production lines with an investment of 15 million bolivianos ($2.12 mn), new contracts and export projects.
Category: Business
Information regarding the business sector.
BDP expects to increase its lending by 29% in 2021
The Banco de Desarrollo Productivo (BDP) intends to increase its loan portfolio to the country's productive sectors by 29% this year. The entity also wants to manage 7.4 billion bolivianos in trusts; achieve a 19% growth in second floor and window clients.BDP expects to increase its lending by 29% in 2021.
Nineteen state-owned companies owe $6.07 mn to the Central Bank
Public companies will continue to be the spearhead of the Government, which during the first two months of its administration, channelled, through the Central Bank of Bolivia (BCB), the disbursement of Bs 402 million ($57.67 mn) in credits in favour of strategic public companies. Until December 2020, according to BCB data, a total of 19 public companies owe Bs 42,328 million ($6.07 mn) to the State.
Bolivia enters the conciliation phase to reactivate the lithium project
ACI Sytems and the Bolivian State have initiated a conciliation process to save the agreement reached and discarded during the Morales administration. The project will try to reactivate the joint venture to industrialize lithium from the Uyuni salt flat. The Government announced that they would look for other actors as well.
Senatex lost $2.1 mn in 2020 and accumulated red numbers
Since its creation in 2016, until 2020, the National Textile Service (Senatex) accumulates red figures, according to official balances. The state-owned company produces and distributes textiles and knitted garments. Last year the state-owned company reported losses of 14.7 million bolivianos ($2.1 mn), and from its management, a restructuring of operations announced. The company currently has a debt of 353 million bolivianos ($50.65 mn).
Emapa’s sales fall 53.3% in 2020 and aim for recovery in 2021
Last year, sales of Empresa de Apoyo a la Producción de Alimentos (Emapa) fell by 53.3%; however, this year, the state-owned company is seeking to recover the dynamism of previous years.
PIL’s sales drop up to 62%
Powdered milk sales fell by more than 50 per cent, and sales of dairy products to social programs fell by 62 per cent, mainly due to the lack of demand for school breakfast and the reduction of the milk quota in the breastfeeding subsidy. The percentage reduction in sales affects production so that the company will reduce the stockpiling of raw materials.
Elfec executed only 37% of its budget and had cash flow problems in 2020
Empresa de Luz y Fuerza Eléctrica Cochabamba (Elfec) executed only 37 per cent of its budget in 2020, in addition to having been affected by the increase in arrears. In the last four years, they expected to invest 690 million bolivianos ($ 99 mn), mainly in 2020, but the pandemic and the government transition affected the execution of its budget.
Metallurgica Vinto reports a 43% drop in production
The Vinto Metallurgical Company (EMV) produced 43.2 per cent less in the 2020 management concerning what it achieved in 2019, which translates into a crisis for the company in personnel layoffs. Officially, Vinto owes $39 million to Huanuni, its largest supplier, which despite the debt, continues to deliver ore, and to Colquiri, it owes $43 million, making a total of $82 million in debts.
Belgian company Fluxys acquires 33.3% of Total Brazil and will own 37% of TBG
Brazil's antitrust agency, CADE, approved the acquisition by Belgium's Fluxys of Total Gas & Power Brasil's 33.33% stake in BBPP Holdings, which owns 29% of Transportadora Brasilera Gasoducto Bolivia-Brasil (TBG), and will now own 37% of TBG, which operates a 2,600km pipeline network (Gasbol) that moves gas from Bolivia to Brazil. Brazil's state-owned Petrobras controls TBG, whose 51% stake is for sale. Bolivian state-owned YPFB owns the remaining 12%.
